Bursa Alert
Global Market
NewsKenanga keeps 'outperform' for Redtone, TP at 77 sen
Page 1 of 1
Kenanga keeps 'outperform' for Redtone, TP at 77 sen
by Cals Tue 30 Jul 2013, 15:35
Kenanga keeps 'outperform' for Redtone, TP at 77 sen
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 30 July 2013 15:11
KUALA LUMPUR (July 30): Kenanga Investment Bank has retained its “outperform” rating and target price of 77 sen for REDTONE INTERNATIONAL BHD [] shares.
The is pending the announcement of the telecommunication-service provider’s financial performance for its fourth quarter ended May 31, 2013 (4QFY13) tomorrow, Kenanga analyst Cheow Ming Liang wrote in a note today.
Redtone shares lost 1.5 sen or 1.81% to 81.5 sen at 2:45 pm
with 1.82 million shares transacted. The stock had earlier fallen to a low of 80 sen.
Kenanga's note was issued after Redtone said yesterday it had signed a share-sale agreement with TSM GLOBAL BHD [] for the acquisition of the remaining 50% in Meridianotch Sdn Bhd not owned by Redtone.
The stake is valued at RM490,000.
Kenanga's Cheow said Redtone’s proposed acquisition of the remaining 50% in Meridianotch aims to widen Redtone's telecommunication infrastructure, and engineering services to the whole country.
These services, according to Cheow, include set-up and maintenance of telecommunication-base stations, network testing, and project management.
“We understand that the group is keen to assume full control of REDtone CNXBroadband Sdn Bhd (a 51%-owned subsidiary of Meridianotch), which is a provider of infrastructure & engineering WIMAX services in East Malaysia,” said Cheow.
Redtone CNXBroadband is mainly engaged in provision of broadband services.
In the short term, Cheow said Redtone’s catalysts will be mainly led by its RM82.5 million universal service provision (USP) project, and the firm's recent network-sharing alliance and alliance agreement with Maxis Bhd.
“The group’s future earnings are likely to depend on its ability to secure more USP projects, and the degree of aggressiveness of Maxis’s 4G-LTE service rollout, which we have yet to impute into our forecasts,” Cheow said.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 30 July 2013 15:11
KUALA LUMPUR (July 30): Kenanga Investment Bank has retained its “outperform” rating and target price of 77 sen for REDTONE INTERNATIONAL BHD [] shares.
The is pending the announcement of the telecommunication-service provider’s financial performance for its fourth quarter ended May 31, 2013 (4QFY13) tomorrow, Kenanga analyst Cheow Ming Liang wrote in a note today.
Redtone shares lost 1.5 sen or 1.81% to 81.5 sen at 2:45 pm
with 1.82 million shares transacted. The stock had earlier fallen to a low of 80 sen.
Kenanga's note was issued after Redtone said yesterday it had signed a share-sale agreement with TSM GLOBAL BHD [] for the acquisition of the remaining 50% in Meridianotch Sdn Bhd not owned by Redtone.
The stake is valued at RM490,000.
Kenanga's Cheow said Redtone’s proposed acquisition of the remaining 50% in Meridianotch aims to widen Redtone's telecommunication infrastructure, and engineering services to the whole country.
These services, according to Cheow, include set-up and maintenance of telecommunication-base stations, network testing, and project management.
“We understand that the group is keen to assume full control of REDtone CNXBroadband Sdn Bhd (a 51%-owned subsidiary of Meridianotch), which is a provider of infrastructure & engineering WIMAX services in East Malaysia,” said Cheow.
Redtone CNXBroadband is mainly engaged in provision of broadband services.
In the short term, Cheow said Redtone’s catalysts will be mainly led by its RM82.5 million universal service provision (USP) project, and the firm's recent network-sharing alliance and alliance agreement with Maxis Bhd.
“The group’s future earnings are likely to depend on its ability to secure more USP projects, and the degree of aggressiveness of Maxis’s 4G-LTE service rollout, which we have yet to impute into our forecasts,” Cheow said.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Kenanga: TSH Resources an 'outperform'
» Kenanga ups Astro to 'outperform'
» Kenanga ups Bursa Malaysia to outperform
» (4588) Kenanga raises UMW to ’outperform’
» Sapura Kencana an 'outperform': Kenanga
» Kenanga ups Astro to 'outperform'
» Kenanga ups Bursa Malaysia to outperform
» (4588) Kenanga raises UMW to ’outperform’
» Sapura Kencana an 'outperform': Kenanga
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|